Wells Fargo overtakes China's ICBC as world's biggest bank
The Industrial & Commercial Bank of China (ICBC) has lost its standing as the world's largest bank by market capitalisation to US-based Wells Fargo, data showed Wednesday, as China's economy slows.
(AFP) The Industrial & Commercial Bank of China (ICBC) has lost its standing as the world's largest bank by market capitalisation to US-based Wells Fargo, data showed Wednesday, as China's economy slows.
San Francisco-based Wells Fargo & Co. is worth $236 billion, according to the New York Stock Exchange, where it is listed, while Chinese figures show ICBC is now valued at $223 billion.
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